Colmes Pro is a Cyprus-based Forex and CFDs trading firm that has been operating since 2010. The broker offers various trading instruments, including Forex, over 4,000 CFDs on commodities, indices, 3,000 US stocks, and more.
The company is regulated by the Cyprus CySEC, ensuring compliance with European financial regulations, client fund safety through segregated accounts, and participation in investor compensation schemes.
Additionally, Colmex Pro holds a license from the FSCA in South Africa, making its services available across the African continent.
Regulation and Security Measures
Colmex Pro is regulated by the well-regarded Cyprus Securities and Exchange Commission (CySEC), which follows strict financial standards, requires regular audits, and the segregation of client funds from company assets.
Additionally, the broker is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa, expanding its regulatory reach to the African continent. These regulatory authorities impose strict rules and regulations to ensure high standards in the financial industry.
How Safe is Trading with Colmex Pro?
Trading with Colmex Pro is generally safe, as the broker operates under a strong regulatory framework, ensuring a high level of client protection and transparency. Client funds are kept in segregated accounts, and eligible clients are protected by the Investor Compensation Fund (ICF).
These regulatory credentials highlight the broker’s commitment to maintaining a secure and compliant trading environment for retail and professional clients.
Consistency and Clarity
Colmex Pro maintains a respectable reputation within the trading community since its establishment in 2010.
Trader reviews reflect a generally positive experience, praising the platforms’ stability and access to a range of instruments while also noting drawbacks such as limited educational resources and inactivity fees.
Though not recognized with industry awards, the broker demonstrates transparency and ongoing service improvement. While its social presence and sponsorship activities are not prominently visible compared to larger competitors, the broker’s long-standing service contributes to a stable profile in the Forex trading market.
Account Types and Benefits
Colmex Pro offers a range of CFD accounts, including Bronze, Silver, Gold, Platinum, and Diamond, designed to suit traders of different experience levels and trading volumes, with minimum deposits starting from $500.
These accounts come with floating spreads, commission structures, and platform access, allowing traders to choose the level that best fits their strategy and budget.
In addition to CFD accounts, the broker provides equities and options accounts with tiered pricing models. A free demo account is also available for beginners to practice and explore the platform risk-free. Also, Colmex Pro offers Islamic or swap-free accounts upon request.
CFDs Accounts
Colmex Pro offers five CFD account types to accommodate traders with varying experience levels and capital. The Bronze account, with a minimum deposit of $500, is suitable for beginner traders, offering standard access to the trading platforms with basic features.
The Silver account requires a minimum deposit of $5,000, providing slightly improved trading conditions and lower commissions compared to the entry-level tier.
For more active traders, the Gold account starts at $10,000, offering enhanced execution conditions, reduced per-share commissions, and broader support.
The Platinum account, with a $25,000 minimum deposit, is tailored for serious traders, featuring cost reductions and advanced tools. At the top tier, the Diamond account requires a $50,000 deposit and is made for high-volume or professional traders, offering the most competitive rates and customized solutions.
Cost Structure and Fees
Brokerage Fees
Colmex Pro’s trading fees are based on account type and trading volume. For CFD trading, commissions start from $0.01 per share with minimum charges per order.
Forex spreads begin from 0.8 pips, with additional commission fees. The broker charges inactivity fees, swap fees, and withdrawal fees after the first monthly transaction.
While the broker’s fees are more competitive for higher-tier accounts, traders should review the full pricing details based on their trading activity.
- Spreads
Colmex Pro offers floating spreads based on the account type and trading platform. The average spread for the EUR/USD Forex currency pair in the Bronze account is 4 pips, which is relatively wide compared to industry standards.
Higher-tier accounts, such as the Platinum account, offer tighter spreads, with an average EUR/USD spread of 0.8 pips.
- Commissions
Colmex Pro charges commissions based on account type and trading instruments. For stock CFDs, commissions start at $0.01 per share with a minimum fee of $1.5 per order at the Bronze account, with lower rates for higher-tier accounts.
Equity accounts offer tiered commissions starting at $0.0035 per share or fixed fees from $6.95 for up to 1,000 shares.
- Rollover / Swaps
Colmex Pro applies overnight fees, commonly known as swap or rollover charges. These fees vary depending on the instrument and position type.
Swap fees are calculated daily and are tripled on Wednesdays to account for weekend holding. The specific swap rates and calculations can be found directly within the trading platform.
- Additional Fees
Colmex Pro imposes several additional fees that traders should be aware of. An inactivity fee applies if there is no trading activity for 30 consecutive days, for $30 per month for CFD accounts and $55 per month for equity accounts.
Withdrawal fees are structured such that the first transaction of the month under or equal to $500 is free, subsequent withdrawals incur a $40 fee.
Trading Platforms and Tools
Colmex Pro offers the Colmex Pro 2.0 proprietary trading platform, which is available on the web, desktop, and mobile devices. It features two distinct modes, Pro View for advanced order execution and market depth data, and Lite View for swift market reactions. The platform supports Level II data, advanced charting tools, and real-time stock screeners, enhancing analytical capabilities.
For traders who prefer a more traditional trading experience, MT4 is available, offering robust technical analysis tools, automated trading through Expert Advisors, and a user-friendly interface.Additionally, Colmex Pro has integrated with TradingView, allowing clients to access real-time market data and execute trades directly through the popular charting platform.
Web Platform
Colmex Pro 2.0 Web Trader is a browser-based platform for traders of all experience levels, with an order execution time of 31 milliseconds. The platform supports Level II data, advanced charting tools, and real-time stock screeners, enhancing analytical capabilities.
Users can customize their workspace with detachable panels and synchronize stock symbols across multiple panels for efficient monitoring. Additionally, the platform’s integration with TradingView allows clients to access real-time market data and execute trades directly through the popular charting platform.
Desktop MetaTrader 4 Platform
The Colmex Pro MT4 platform provides a powerful trading experience for its users. It offers online quotes and interactive charts with 9 timeframes, allowing traders to analyze market movements in detail and react quickly to price changes.
With 23 analytical objects and 30 built-in technical indicators, traders can easily perform in-depth technical analysis. MT4 also supports automated trading through EAs, one-click trading, and extensive customization options, making it a reliable choice for various trading strategies.
Main Insights from Testing
Testing the MT4 platform revealed a stable and responsive trading environment, ideal for executing trades efficiently even during volatile market conditions. The interface is intuitive, with smooth order execution.
Additionally, the platform’s compatibility with third-party tools and its reliable performance during backtesting make it a strong choice for traders who prioritize precision and speed.
Desktop MetaTrader 5 Platform
Colmes Pro does not support the MetaTrader 5 platform, focusing instead on MT4 and its proprietary trading solutions.
MobileTrader App
Colmex Pro offers mobile trading through the Colmex Pro 2.0 and MetaTrader 4 mobile apps, available on iOS and Android.
The Colmex Pro 2.0 app provides access to thousands of US stocks and CFDs, real-time quotes, advanced charting, and customizable views. Meanwhile, the MT4 app offers a familiar interface with full trading functionality, including technical indicators, multiple timeframes, and one-tap execution.
Leverage Options
Colmex Pro’s leverage depends on the regulation and jurisdiction governing the trading account. Each jurisdiction operates under specific rules and laws, meaning that the multiplier levels and trading conditions vary based on the trader’s country of residence.
- European traders are eligible to use up to 1:30 for major currency pairs.
- Trades from South Africa are eligible to use low leverage up to 1:30 for major currency pairs.
- For professional traders, the website states the potential for higher leverage of up to 1:200.
Deposit and Withdrawal Options
Deposit Options
As for the deposit options, Colmex Pro offers a few options. However, we advise checking funding methods as they might vary based on the client’s country of residence.
- Credit/Debit cards
- Wire transfer
- Skrill
- PayPal, etc.
Minimum Deposit
Colmex Pro offers various account types with minimum deposits starting from $500 for the Bronze Account, while higher-tier accounts like the Silver, Gold, Platinum, and Diamond require $5,000, $10,000, $25,000, and $50,000, respectively.
Withdrawal Options
Colmex Pro offers the same funding methods for withdrawals as for deposits. Withdrawals are typically processed within a few hours, however, the exact time for the funds to appear in your account depends on the selected method.
The first withdrawal of the month up to $500 is free, while additional withdrawals incur a fee of $40.
Research and Education
Research Tools
Colmex Pro offers a range of research tools across its platforms to support users in making informed decisions.
- Colmex Pro 2.0 desktop platform offers advanced charting capabilities, including 14 chart styles such as Heiken Ashi and Cluster charts, and access to 47 technical indicators, with options to import custom indicators.
- Additionally, the platform features real-time stock screeners, such as Gainers/Losers and High/Low panels, to identify market opportunities.
- Also, TradingView integration enhances the traders’ research experience with its real-time market data and charting tools.
- MetaTrader 4 platform, in its turn, provides analytical objects, built-in technical indicators, facilitating detailed market analysis.
Education
Colmex Pro’s educational resources are limited compared to other industry-known brokers. The website primarily offers a blog and market news updates to keep traders informed about market trends and developments.
However, the broker does not provide comprehensive educational materials, webinars, seminars, or in-depth tutorials, which are beneficial for beginners seeking to enhance their knowledge and skills.
